Pension/Retirement Planning
đź’° Retirement planning is one of the most important choices for your financial future.
With the state pension age pushed to 68, and the future of state pensions uncertain, starting early is the smartest way to secure the comfortable, independent retirement you deserve. At Future Proof Finance.
We guide you through the best pension options so your future is in safe hands.
01. Retirement Annuity Contract (RAC)
- Also known as a Personal Pension Plan.
- Ideal for self-employed individuals or those without a company pension.
- Owned and controlled entirely by you.
02. Master Trust
- A pension structure shared by multiple employers
- Pools employees’ pension assets into one fund
- Lowers costs and simplifies administration
- Offers stronger investment opportunities
- Keeps individual member records
- Ensures full regulatory compliance
03. Annuity
- A policy that provides a guaranteed income for life.
- Typically, the first 5 years are guaranteed, ensuring peace of mind and stability.
04. Executive Pension Plan
- European legislation has effectively removed these, with a PRSA or Master Trust replacing them)
- A pension plan owned by a company director.
- Can be funded by the company, the director’s salary, or a mix of both.
- Flexible and tax-efficient for business owners.
05. Occupational Pension Scheme
- Company pension scheme set up by an employer.
- Provides retirement and death benefits for employees.
- Usually established under trust or by statute for state and semi-state bodies.
06. ARF (Approved Retirement Fund)
- Post-retirement fund where you have flexible access to your money.
- Minimum drawdown:
- 4% annually up to age 71
- 5% annually after age 71.
07. AVCs (Additional Voluntary Contributions)
- Extra contributions made on top of compulsory company pension contributions.
- Used to increase retirement benefits within revenue limits.
- A great way to boost your pension and enjoy tax relief.
08. Self-Directed Pensions
- Gives you control over how your pension is invested.
- Can be linked to a Personal Pension Plan, Executive Pension Plan, or Non-Standard PRSA.
- You choose your asset classes and investment strategy.
09. SSAPs (Small Self-Administered Pensions)
- One of the most flexible pension types.
- Allows greater contribution and investment freedom.
10. PRSA (Standard)
- Fixed charges: 5% entry + 1% annual management
- Simple, cost-effective plan
- Limited fund range
- Usually no high-risk options
11. PRSA (Non-Standard)
- Wider fund range incl. high-risk options
- Charges may be higher (not always)
- More control over investment choices
12. Buy Out Bond (BOB)
- A single premium pension plan held in your name when you leave a job or a scheme ends.
- Gives you full control of your pension going forward.
- Can be purchased by you or the trustees on your behalf.
🌍 Investment Platforms
- Online services that make investing in funds simple and transparent.
- Provide access to a wide range of investments — often at a lower cost.
- Ideal for those who prefer to actively manage their pension portfolio.
Why Start Pension Planning Early?
- ⏳ More time = more growth thanks to compound returns.
- 🧠Greater flexibility in how and when you retire.
- đź’° Increased financial security for your future.
- 🧡 Peace of mind knowing you’ve taken control of your tomorrow.
🤝 Future Proof Finance — Your Retirement Partner
Whether you’re self-employed, a company director, or an employee, we offer tailored pension solutions that align with your goals.
From basic PRSAs to self-directed investment strategies, we help you build a future you can look forward to.
📞 Get in touch today and let’s start planning your financially secure retirement.
